In May 2013, the Company announced that it will extend its semi-annual dividend growth program to 2016. TELUS plans to continue with two dividend increases per year to 2016, normally announced in May and November, and is targeting the increase to also be in the range of circa 10% annually. Notwithstanding this, dividend decisions will continue to be dependent on earnings and free cash flow and subject to the Board’s assessment and determination of our financial situation and outlook on a quarterly basis. There can be no assurance that the Company will maintain its dividend growth program through to 2016.
In May 2011, TELUS originally announced plans to continue with two dividend increases per year to 2013, normally declared in May and November, and expect the increase to be in the range of circa 10% annually.
In February 2014, the Board of Directors declared a quarterly dividend of thirty-six cents ($0.36) Canadian per share on the issued and outstanding common shares of the Company payable on April 1, 2014 to holders of record at the close of business on March 11, 2014.
This quarterly dividend represents a 4 cent or 12.5 per cent increase from the $0.32 quarterly dividend paid on April 1, 2013.
|Record Date||Payment Date||Amount*|
|Q1-14||March 11, 2014||April 1, 2014||$0.36|
|Q4-13||December 11, 2013||January 2, 2014||$0.36|
|Q3-13||September 10, 2013||October 1, 2013||$0.34|
|Q2-13||June 10, 2013||July 2, 2013||$0.34|
|Q1-13||March 11, 2013||April 1, 2013||$0.32|
* Dividend amounts adjusted for 2-for-1 stock split effective April 16, 2013.
TELUS Corporation ("TELUS") advises that unless stated below, all Common and Non-Voting share quarterly dividends paid since January 2006 are "eligible dividends" as defined by subsection 89(1) of the Income Tax Act. Under this legislation individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce the income tax otherwise payable.
The following portion of Common and Non-voting share dividends paid on April 1, 2007 are eligible dividends.
As of February 4, 2013, the dividend reinvestment and share purchase plan has been amended so that purchases and issuances in the plan are common shares.
Investors may take advantage of automatic dividend reinvestment to acquire additional shares without fees. Under this feature, eligible shareholders have had their common and non-voting share dividends reinvested automatically into additional non-voting shares acquired at market price up to January 2013.
Under the share purchase feature, eligible shareholders can, on a monthly basis, buy TELUS common shares (maximum $20,000 per calendar year and minimum $100 per transaction) at market price without brokerage commissions or service charges. Previously, non-voting shares were acquired with optional cash payments. After February 4, 2013, common shares will be acquired with the optional cash payments.
For historical information on DRISP prices, please download the spreadsheet.
|Record Date||Payment Date||Amount|
* Adjusted for 2-for-1 stock split effective April 16, 2013.